IMG
  • Header banner 1
ad
ad

As the population measure of 2020, there are almost 8 billion people are living in the world. Currently

As the population measure of 2020, there are almost 8 billion people are living in the world. Currently, 1.8 billion Muslims are living here. No one can escape them in any industry. The forex trading industry also makes special opportunities for them because there are many restrictions available for Muslims. Islamic religion doesn't allow usury in money; that's why they have to avoid it. There are millions of Muslim traders are trading in the Forex industry. Although some people are avoiding usury rules while trading in forex, a large number of Muslims wants to trade in forex without usury. Forex brokers are offering them a usury-free trading account. In this article, we are going to explore the Islamic accounts facilities and cons.

So, what is an Islamic account?

To put it as plainly as possible, the Islamic account is one of the main account types that allows Muslim traders to do overnight trading without interest rate commissions. And pretty much all Forex brokers offer it to their clients.

Restrictions on interest in Islam

One of the most fundamental restrictions in Islam that every follower must obey is abolishing the interest for any service. So, for instance, if you're taking a loan from a bank or an individual pawnbroker, they're not allowed to charge you interest for it.

This restriction has something to do with the divine nature of Islam: people shouldn't be focused on getting benefits from their charitable actions. Naturally, therefore, interest in any service is prohibited.

Trading with Islamic account

So, how does this Islamic account work? When compared to other live trading accounts, the Islamic account is usually the same in terms of the majority of its offerings.

For instance, it will probably have the same leverage, spread, and minimum deposit requirements as its parallel accounts. The same can be said about order types and execution policies.

With that being said, however, there's one other difference that may also come with an Islamic account. While setting up this type of account with your Forex broker, you might be asked to provide the documentation or any other kind of proof that verifies that you're a Muslim and you're eligible for a swap-free account.

What's more, while it may not share the same commission rates as its live counterparts, the Islamic account may come with slightly higher commission rates to balance out the absence of the swap charges.

All in all, you can use the Islamic account to your advantage to engage in overnight trading, although you need to prove that you're eligible for it.

#What is Islamic account in forex trading,

Comments (138)

ZgdhogSaturday 22nd of January 2022 03:22 PM
inderal pills - order generic inderal hydroxychloroquine without prescription

OruabrThursday 20th of January 2022 08:46 PM
buy zanaflex generic - purchase prozac online colchicine without prescription

VqkwgpWednesday 22nd of December 2021 03:29 PM
buy cheap vardenafil uk - vardenafil orodispersible orlistat order online

OlzqzwMonday 13th of December 2021 11:10 AM
pregabalin pill - lasix side effects furosemide tablets australia

UmcqsmSunday 12th of December 2021 04:28 AM
purchase amoxicillin uk - best casino games casino online

OnhlueFriday 10th of December 2021 10:05 PM
buy ed medications online - fda approved over the counter ed pills roaccutane without a prescription

RypqucThursday 09th of December 2021 01:23 PM
side effects of ivermectin - canadian pharmacy online legit legitimate canadian pharmacy list

UcckhfMonday 06th of December 2021 08:32 PM
canadian viagra prescription - viagra next day delivery usa prescription viagra usa

ZdwcpsFriday 03rd of December 2021 01:17 AM
online casinos for usa players - slots games free slot games online

JhhpirWednesday 01st of December 2021 06:45 PM
canada drugs online reviews - fildena brand canada drugs reviews

UtmpxgMonday 29th of November 2021 12:47 AM
academic writing blog - thesis writers thesis writers

VptrfzFriday 26th of November 2021 12:43 AM
male ed drugs - male ed drugs best pills for ed

RpjtpiWednesday 24th of November 2021 04:38 AM
canadian pharmacy no prescription needed - ed pills online canadian pharmacy

UobneoMonday 22nd of November 2021 11:40 AM
tadalafil canadian - best cialis price how to buy cheap viagra online

DuauevFriday 19th of November 2021 02:09 AM
casino online real money - site rivers casino

NzdzlxTuesday 16th of November 2021 02:45 AM
purchase accutane with paypal - isotretplus accutane pharmacy prices

PcmjofFriday 12th of November 2021 12:11 AM
medicine for impotence - buy ed medications online causes of erectile dysfunction

IpwfupWednesday 10th of November 2021 04:41 PM
viagra online canadian pharmacy - legit canadian online pharmacy legitimate canadian pharmacy online

OntyndMonday 08th of November 2021 01:52 AM
real money casino app - real online casino online casino

QnkftwTuesday 02nd of November 2021 07:41 PM
accutane generic - buy accutane uk pharmacy accutane

TncidoThursday 28th of October 2021 04:44 AM
canadian pharmacy ltd - canada drugs online reviews canadian pharmacy levitra

OkfmtmSunday 24th of October 2021 11:26 AM
buy real viagra online australia - Viagra original pfizer order viagra over the counter nz

OtqmvaSaturday 23rd of October 2021 07:03 AM
write research papers - paper writer affordable term papers

MwbqnbThursday 21st of October 2021 08:20 PM
play online casino real money - playcasigm.com best online casinos that payout

MxkgtoMonday 18th of October 2021 04:49 AM
cialis cheap online - Cialis on line purchase buy cialis viagra

VcdrfbSunday 17th of October 2021 04:40 AM
india cialis - cialis from canada cialis canada buy online

OetmmsSaturday 16th of October 2021 03:12 AM
sildenafil price usa - realsilpll.com buy viagra without a prescription

online pharmaciesFriday 15th of October 2021 11:39 AM
loss of hair on head inhalers for asthma online pharmacies online pharmacies https://canadianexpresspharm.com/# online pharmacies

AquwbyThursday 14th of October 2021 08:07 PM
where to buy viagra in canada safely - buy viagra no prescription sildenafil pills in india

JlpvxrWednesday 13th of October 2021 05:42 AM
stromectol without prescription - ivermectin uk buy ivermectin malaria

online pharmaciesSaturday 09th of October 2021 11:42 AM
who asthma allergic reaction pathophysiology canadian pharmacies online pharmacies https://canadianexpresspharm.com/# online pharmacies

joiguerFriday 08th of October 2021 06:08 PM
gabapentin benefits

equamekawFriday 08th of October 2021 06:57 AM
Prednisone

StarbuhThursday 07th of October 2021 05:53 PM
http://prednisonebuyon.com/ - Prednisone

is gabapentin an opioidTuesday 05th of October 2021 03:11 PM
Cialis Comprar

GyuwpoMonday 04th of October 2021 05:04 AM
xenical generic name - orlistat pi orlistat slimming pills

PrednisoneSunday 03rd of October 2021 09:59 PM
Cat Amoxicillin

AygpchWednesday 29th of September 2021 10:57 PM
canadian generic vardenafil - canadian pharmacy ltd. where can i buy ed pills

JleohrSunday 26th of September 2021 01:00 PM
stromectol tablets for humans for sale - ivermectine online ivermectine

RqhedoSaturday 25th of September 2021 10:04 AM
help writing research paper - help with research paper essays buy

emusuafFriday 24th of September 2021 11:06 AM
http://buypriligyhop.com/ - buy priligy

hydroxychloroquine buy onlineThursday 23rd of September 2021 01:49 PM
what causes gastrointestinal distress gastrointestinal tract problems hydroxychloroquine online hydroxychloroquine tablets https://hydroxychloroquineplaquen.com/# hydroxychloroquine over the counter

HazyvurryThursday 23rd of September 2021 09:10 AM
plaquenil for covid

seastelekThursday 23rd of September 2021 04:44 AM
furosemide dosage for dogs

MfgbxqThursday 23rd of September 2021 01:26 AM
buy tadalafil online cheap - buy tadalafil generic online buy tadalafil online reddit

nunkknidsWednesday 22nd of September 2021 04:52 PM
azithromycin moa

CxbhqwTuesday 21st of September 2021 06:16 PM
online sildenafil prescription - canada sildenafil sildenafil sample

what happens when you stop taking lasixSunday 19th of September 2021 08:34 PM
Propecia Pastiglie

PriligySunday 19th of September 2021 05:45 PM
Acheter Du Cialis En Toute Legalite

SqueesySaturday 18th of September 2021 06:16 AM
https://buylasixshop.com/ - furosemide moa

ZithromaxSaturday 18th of September 2021 02:25 AM
Cialis Compra

ZokeqhThursday 16th of September 2021 04:57 PM
cytotec over the counter usa - cytotec pharmacy uk cheap cytotec

aftergeThursday 16th of September 2021 11:19 AM
https://buyplaquenilcv.com/ - Plaquenil

PlaquenilThursday 16th of September 2021 02:05 AM
How To Order Cialis Online

RwbfoiWednesday 15th of September 2021 11:57 AM
ventolin cost usa - topventoli.com ventolin purchase

EagegnaltMonday 13th of September 2021 08:25 PM
Stromectol

HaurombSaturday 11th of September 2021 05:29 AM
http://buystromectolon.com/ - Stromectol

EzvdjsThursday 09th of September 2021 12:18 PM
where to buy cialis without prescription - Branded cialis cheap cialis fast

TosgncMonday 06th of September 2021 11:13 PM
cheap essay help - essay custom writing assignment writing services

PertslireSunday 05th of September 2021 03:46 PM
mixing cocaine and viagra

ArrucxSaturday 04th of September 2021 05:59 AM
buy amoxicillin online - amoxicilin usa amoxicilin without prescription

PropeciaTuesday 31st of August 2021 07:54 AM
Como Conseguir Viagra Sin Receta Medica

WetsstariSunday 29th of August 2021 11:03 AM
http://buytadalafshop.com/ - Cialis

ZmmpdiFriday 27th of August 2021 03:13 PM
can you buy viagra in australia - sildenafil cost uk

OmbeloWednesday 25th of August 2021 09:57 PM
neurontin price india - brand name neurontin how to get synthroid without a prescription

WhvuyuMonday 23rd of August 2021 05:03 AM
buy cytotec online singapore - fastcytoteh.com cytotec for induction of labor

GuhmdlSaturday 21st of August 2021 07:12 PM
ventolin price canada - ventolin hfa inhaler buy ventolin online

Write a Comment

Forex Featured Brokers

FXTM

$10000 Trading Credit
30% Deposit Bonus
Broker Type : STP/ECN
Leverage up to 1:1000

Start Trading View Profile »
LegacyFX

Free Trading Signals
Leverage - up to 1:200
Min: Deposit: $250
Broker Type: STP/ECN

Start Trading View Profile »
HotForex

100% Free Bonus
Minimum Deposit $5
Leverage up to 1:1000
Broker: STP/ECN/NDD

Start Trading View Profile »
AMarkets

15% Deposit Bonus
Minimum Deposit $100
Leverage up to 1:1000
Broker Type: ECN/STP

Start Trading View Profile »
LIRUNEX

$6000 Trading Bonus
50% Deposit Bonus
Leverage up to 1:1000
Minimum Deposit $25

Start Trading View Profile »
ATFX

50% Deposit Bonus
Leverage up to 1:400
Minimum Deposit $100
Broker Type: NDD

Start Trading View Profile »